Unisem shares down despite better earnings

PETALING JAYA: Unisem (M) Bhd’s share price fell 1.24% this morning despite reporting higher net profit for the third quarter ended Sept 30, 2017.
At 11.10am, its share price fell 1.24% or 5 sen to RM3.97 with a total of 147,600 shares traded. Yesterday, its shares gained 0.5% or 2 sen to close at RM4.02 with some 826,600 shares traded.
Unisem’s third quarter net profit rose 4.7% to RM40.45 million from RM38.63 million a year ago, driven by higher sales, improved average selling prices and the appreciation of US dollar/ringgit exchange rates.
Revenue for the quarter expanded 18.8% from RM321.95 million to RM382.32 million.